Morning Market Update, Updated 18th May 2017

The Aussie market is in for another tough session today, after Wall Street slumped overnight.

SPI futures are down 58 points, at 5723.

The Dow shed more than 370 points, with selling accelerating into the close. The $A was steady. The yield on the US 10-year note dropped 11 basis points to 2.22 per cent.

What’s on today:

Local data: Consumer inflation expectations May, Labour force April

Capital Economics on the jobs report: “While we suspect that employment rose again in April, we doubt that the particularly large rise in employment in March was repeated. We are forecasting a small rise of just 10,000. Nonetheless, the unemployment rate may have dropped back to 5.8 per cent.”

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